Can I retire at age 59 with 788,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$65,072$64,493$63,927$63,375$62,836$61,872
2 years$32,214$31,614$31,033$30,469$29,922$28,953
3 years$21,263$20,660$20,080$19,522$18,984$18,040
4 years$15,788$15,187$14,613$14,064$13,539$12,628
5 years$12,504$11,907$11,340$10,803$10,292$9,416
6 years$10,316$9,723$9,165$8,639$8,144$7,304
7 years$8,753$8,165$7,616$7,103$6,623$5,820
8 years$7,582$6,999$6,459$5,958$5,495$4,727
9 years$6,671$6,094$5,563$5,075$4,627$3,896
10 years$5,943$5,372$4,850$4,375$3,943$3,247
11 years$5,348$4,782$4,270$3,807$3,391$2,729
12 years$4,852$4,292$3,789$3,340$2,938$2,311
13 years$4,433$3,879$3,386$2,948$2,562$1,968
14 years$4,074$3,526$3,042$2,617$2,246$1,684
15 years$3,763$3,221$2,746$2,334$1,978$1,446
16 years$3,491$2,955$2,490$2,090$1,748$1,246
17 years$3,252$2,721$2,266$1,878$1,550$1,077
18 years$3,039$2,515$2,068$1,692$1,378$933
19 years$2,849$2,331$1,894$1,529$1,228$810
20 years$2,678$2,166$1,738$1,385$1,097$704
21 years$2,524$2,017$1,598$1,257$982$613
22 years$2,384$1,883$1,473$1,143$880$535
23 years$2,256$1,761$1,360$1,041$790$467
24 years$2,139$1,650$1,258$949$710$408
25 years$2,032$1,549$1,165$867$639$357
26 years$1,933$1,455$1,081$793$576$312
27 years$1,841$1,370$1,003$726$519$273
28 years$1,756$1,291$933$665$468$239
29 years$1,677$1,218$868$610$423$210
30 years$1,604$1,150$809$559$382$184
31 years$1,535$1,087$754$514$345$161
32 years$1,471$1,029$703$472$312$142
33 years$1,411$974$657$434$283$124
34 years$1,355$923$614$400$256$109
35 years$1,302$876$574$368$232$96
36 years$1,252$831$537$339$210$84
37 years$1,204$789$502$312$190$74
38 years$1,160$750$470$288$173$65
39 years$1,117$713$441$265$157$57
40 years$1,077$679$413$245$142$50
41 years$1,039$646$387$226$129$44
42 years$1,003$615$363$208$117$39
43 years$969$586$341$192$106$34
44 years$936$559$320$178$96$30
45 years$905$533$300$164$87$26
46 years$875$508$282$151$79$23
47 years$847$485$265$140$72$20
48 years$820$463$249$129$65$18
49 years$794$442$234$119$59$16
50 years$769$422$220$110$54$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $788,000, adding $6,496 every year, while hoping to spend $42,902 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 70/19/11 Blend
58$788,000$788,000$788,000$788,000
59$875,077$833,313$821,099$933,903
60$918,687$828,498$802,958$968,940
61$965,308$822,009$782,772$1,001,436
62$1,015,201$813,719$760,426$1,035,856
63$1,068,653$803,492$735,802$1,072,381
64$1,125,979$791,187$708,775$1,111,210
65$1,187,525$776,651$679,215$1,152,566
66$1,253,669$759,723$646,985$1,196,693
67$1,324,828$740,235$611,944$1,243,863
68$1,401,458$718,004$573,942$1,294,376
69$1,484,062$692,842$532,824$1,348,563
70$1,573,191$664,545$488,428$1,406,790
71$1,669,450$632,902$440,584$1,469,464
72$1,773,505$597,685$389,115$1,537,032
73$1,886,088$558,657$333,835$1,609,991
74$2,008,002$515,564$274,552$1,688,889
75$2,140,131$468,140$211,063$1,774,331
76$2,283,448$416,103$143,157$1,866,988
77$2,439,022$359,154$70,615$1,967,599
78$2,608,028$296,978$0$2,076,984
79$2,791,760$229,243$0$2,196,844
80$2,991,640$155,597$0$2,336,277
81$3,209,235$75,668$0$2,488,121
82$3,446,266$0$0$2,653,625
83$3,704,630$0$0$2,836,456
84$3,986,412$0$0$3,053,152
85$4,293,910$0$0$3,289,664
86$4,629,650$0$0$3,547,940
87$4,996,415$0$0$3,830,126
88$5,397,268$0$0$4,138,585
89$5,835,581$0$0$4,475,916
90$6,315,068$0$0$4,844,984
91$6,839,816$0$0$5,248,942
92$7,414,328$0$0$5,691,261
93$8,043,561$0$0$6,175,764
94$8,732,975$0$0$6,706,663
95$9,488,581$0$0$7,288,594
96$10,317,002$0$0$7,926,665
97$11,225,530$0$0$8,626,499
98$12,222,197$0$0$9,394,293
99$13,315,853$0$0$10,236,871
100$14,516,241$0$0$11,161,749